When did our step mother die and the condo sold?

The family condo was purchased by them for $450,000 and then his father died in 1985. His step-mother lived in the condo until she died and it recently sold for $1.6 M. Ater the cost of the condo sale, the net is approximately $1. 5M.

Who was the trust that sold my mother’s house?

Joe [Personal Information Removed] Executor of my mother’s Estate and Trustee to the Trust that Sold the house. May 31, 2019 4:51 PM Our Mother died and the Irrevocable Trust sold our family home that it has owned for 14 years. Proceeds were distributed to benefactors who pays the taxes on the income?

When does a mother become the sole owner of a property?

If title was held as tenants by the entirety, or even as joint tenants with rights of survivorship, then when your dad died, your mother became the sole owner of the property. This is known as a “transfer by operation of law.”

How did your mother and father own the House?

But there are questions that must first be answered. How did your mother and father own the house? If title was held as tenants by the entirety, or even as joint tenants with rights of survivorship, then when your dad died, your mother became the sole owner of the property.

When did my mother leave me the House?

Three years ago, my mother died suddenly, and I inherited her home and all its contents. The day after she died, one of my brothers threatened to sue me for his share of the inheritance.

What did my brother do after mom died?

The day after she died, one of my brothers threatened to sue me for his share of the inheritance. I waited to breathe until probate was over.

When does a mother steal her children’s inheritence?

Recently a mother stole her childrens inheritence she acted as trustee when their father died eventhough she had married twice since. They trusted her then she took and spent the money. What can they do? February 23, 2009 at 8:57 AM Anonymous said… Seems like a lot of this goes on. Well here is my story.

How did the irrevocable trust sell the family home?

Our Mother died and the Irrevocable Trust sold our family home that it has owned for 14 years. Proceeds were distributed to benefactors who pays the taxes on the income? Assuming that your mother had a trust into which she had put the family home fourteen years ago.

Who is the owner of my father’s house?

If it was joint with right of survivorship with another individual (e.g. your stepmother), then that surviving person would own the property. If the property was simply owned jointly, then that portion owned by your father would have passed to his estate. If he had a will, the terms of the will would control disposition of the property.

What happens to my father’s property if I Die?

If the property was simply owned jointly, then that portion owned by your father would have passed to his estate. If he had a will, the terms of the will would control disposition of the property. If he died without a will, the intestacy statute in the state where he resided when he passed away would control who inherited his interest.

What happens if my father dies and owns a house?

We dont typically have right of survivorship deeds. It would depend on whether or not your father bought the home before the marriage or not. If it was purchase before the marriage, the stepmother would have rights of contribution for mortgage payments made during the marriage as well as a life estate in the property.

What happens to my mother’s estate if I have no parents?

If no parents are alive, then the estate passes in equal shares to you and your siblings. If your mother was single with children, then the estate would pass in equal shares to the children.

What happens if my stepfather inherits my mother’s assets?

If that is the case, such assets would pass to your sister. Assets titled jointly between your mother and your stepfather are now his. He can do whatever he wishes to do with them, whether they were originally inherited by your mother or not.

What happens if I buy my mom’s house?

If she gifts it to you and then applies for Medicaid it will be a prohibited transfer if the gift took place less than 60 months before application. If you buy it from her, she will have money and that will be considered an asset for Medicaid qualification purposes. In either event she will have to pay her own way for at least a while.

How can I invest in my mom’s name?

If the account is in her name, the investments (appreciated stocks and mutual funds) will “step up” in cost basis when you inherit them. These days, with internet investment trading, you can easily access her account for investment purposes.

When did my mother leave the property to my brothers?

Q When my mother passed away in 2012, she left her property to me and my three brothers – the deeds have been changed accordingly. One of my brothers has lived in the property for around 25 years.

What happens to your house if your parents pass away?

And if the owner didn’t have any children but left a spouse and living parents when he passed away, then 50% of the property goes to the spouse and the other half goes to the parents. Things are a little different if your parents were declared Muslims before they passed: the Syariah Court and the Islamic Inheritance Law (Faraid) come into play.

How long did my mother work before she died?

Normally, the Social Security Administration requires 10 year of work to qualify for benefits. If your mother passed when she was very young, you may qualify for benefits based on her work record if she worked 1 1/2 years during the three years before her death.

When do you have to pay rent after a tenant dies?

In your case, the tenant died with four months left on his lease. Since there needs to be two full months’ notice, the notice to terminate starts in May and goes through the end of June. Therefore, your tenant’s estate owes three months of rent.

Where did my mother live when she died?

She lived in a NH for all of 2011 until she died and her money was spent down on the monthly rent, but there was some money left when she died, which went to me, POD. There was no real estate. My husband has always done our taxes and, for the past 5 years, my mother’s.

What happens if my mother files a quitclaim deed?

In a quitclaim deed, your mother conveys to you and your sister her interest in the property. After the quitclaim deed is filed, your mother would no longer own any part of the home.

What happens to my mother’s real estate when she dies?

If the real estate was held as a joint tenancy with her husband then the real estate automatically goes to him. He… Your husband should arrange to sit down soon with an attorney who deals with Probate law in the state where his mother was domiciled at the time of her death.

Is the father of my husband’s mother still living?

My husband’s mother just passed away suddenly and her husband is still living (not the parent of my husband or his sister). He has 3 very greedy children and I worry that unless something is written down with regards to who gets what later, it will just turn ugly when he passes away someday.

How long has it been since my mom died?

When I find myself getting mysteriously emotional, it’s usually around this time of year. Me and mom. College graduation weekend. This week marks five years since my mom passed away. To say we were “close” is an understatement.

What was the stock price in 1974 when my father died?

Translation: Instead of paying gains on the 1974 stock price, we should have been paying gains on the January 2, 2002 price, the date of my father’s death. Fortunately, the mistake was largely confined to 2015.

Who was the 15 year old killed by his father?

A 15-year-old boy who was killed by his father in an execution style killing spent the last moments of his life pleading, “No, Daddy! No!”. Jamar Pinkney Jr. was shot in the head Monday by his 37-year-old father, Jamar Pinkney Sr., who allegedly made the teen strip his clothes off and kneel in a vacant lot before he was killed by a single bullet.

Who was charged with first degree murder in Florida?

Pinkney Sr. was charged with first degree murder and if convicted, could spend the rest of his life in prison. The judge entered a “not guilty” plea on behalf of Pinkney. He is also charged with three counts of felonious assault and one count of felony firearm.

Can a deceased mother’s mortgage affect your credit?

If neither of you were on the mortgage it is unlikely it will affect your credit. My mom passed away in 2016, leaving behind no recorded or any kind of written will. At the time, we were estranged, so I had no idea that she had a mortgage on a 2nd home that was previously occupied by a sibling. No one’s name was on the mortgage, just my moms.

When did your mother put you on the deed to her home?

We’re assuming that, a few years ago, your mother put you on the deed of the home she already owned*. That was a gift. The usual rule, for a gift, is that the recipient’s basis is the giver’s basis (what you mother paid for it), not the FMV at the time of the gift.

Where did I buy a house for my son?

My house in the San Francisco Bay Area is valued on Zillow Z, -3.20% for over $800,000 and will be paid off in the next couple of years. My daughter-in-law wants to divorce my son, wants half the proceeds from the sale of the house I bought him and told me my son was a monster.

What happens when an unmarried couple buys a house?

Should by with notion that in the event of the others death the other becomes the sole owner and 1/2 the house doesn’t go to the other persons family. I also saw a friend buy a house and put his girlfriend on the deed but not the mortgage. When she ended the relationship she demanded her 1/2 of the house and he had to sell it.

What are the new rules for capital gains in Mexico?

Under the new rules, our primary residence will be exempt from capital gains after living in the home for just 3 years, instead of the current law’s every 5 years. Soda pop manufacturers got a boost with 50% reductions in taxes on high-calorie drinks. The tax limit on cars has been raised from 130,000 pesos to $175,000 for 2016.

When does a home become a primary residence in Mexico?

On October 18, the Mexican Congress amended the tax law for 2016. Under the new rules, our primary residence will be exempt from capital gains after living in the home for just 3 years, instead of the current law’s every 5 years.

How are property sales by foreigners taxed in Mexico?

The tax calculation & tax status-determination of property sales by foreigners is a murky and dense area in Mexican tax law.

When did I take care of my mom?

My mom was upset about this, and asked me to be a joint owner on her savings account in 2013, after we met with her attorney. Since then, I cared for her in our house and even responsibly managed her finances, which gained significant interest over the years.

When did my mother put her name on the House?

My mother added my name to the deed in 2010 and then passed in 2014, I sold the house in 2016. June 4, 2019 7:53 PM My mother put my name on her house deed before her death. After she passed I sold the house. Do I owe any Capital Gains tax? If she deeded the house to you in 2010, then it was considered a gift to you in 2010.